While there are definitely forces that are out of your control to stop your best people leaving, if you create an environment (and build relationships) that makes them feel challenged, engaged, valued, and rewarded you can raise the chances of retaining your top talent.
Here are the top reasons as to why your top talent are leaving:
1. Dissatisfaction with job or responsibilities
Great workers want to be learning and growing on the job. There is always room for growth and skill development, even if they are a seasoned pro. Increasing an individual's autonomy in their role can be a great way of giving them more responsibility while still getting all the work done.2. Being unchallenged and dis-engaged them
Smart workers don’t want to feel like they are working in a repetitive role full of boredom. They need to have their minds engaged and their creativity challenged. An example of how you may engage someone in the workplace might be to allow them to shadow someone else from another part of the business for a day.3. Lack of a sense of belonging
On a human level, everybody wants to feel liked and cared about, or at the very least like they belong somewhere. As an employee, they want to feel like you care not only about their career but also on a personal level. An aspect of Transformational Leadership is treating employees like individuals and not just another member of the team. The old saying of "leave your emotions at the door" is no longer valid. Employees who have fun with their colleagues and look forward to being at work are more likely to stay in the long term. Letting them feel like you care about them gives them the confidence to have a voice which may lead to innovations within your business and increased productivity!4. A misalignment between personal leadership styles and the leadership style that is required to lead effectively.
It's hard to find a balance between micro managing and being a ghost in the workplace. Your best talent want to be given enough rope to accomplish their duties and tasks themselves. Similarly, being an absent or avoidant leader by only checking in with your staff once every few months will drive them away. It is essential to find the right balance between the two ends of the spectrum and a good way to assess how you are going is to simply ask your employees "Are we meeting enough for you to be as effective as you can be?".
As the saying goes: “Employees don’t quit working for companies, they quit working for their bosses”. It is clear that these small changes that you can immediately implement will pay off and prevent your top talent from needing to look for another job.
To find out who your top talent is, our partners, Psych Press are talent assessment and development Psychologists. Psych Press have a large selection of in-house and customisable assessment tools that link personality to performance prediction for a variety of companies. One such tool, Business Personality Reflections (BPR) has been used for a multitude of roles to ascertain a strong fit for recruiting decisions. Based on a wide field of research and multiple industry norms, this assessment provides a full report for your informed decision. To find out more visit the Psych Press Business Personality Reflections page or contact them on (03) 9670 0590.
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